Singapore-based agricultural group Olam International has formed a joint venture with US commodities group Lansing Trade Group to originate and merchandise Canadian grains and oilseeds.
The move follows Ottawa’s decision to end the Canadian Wheat Board’s 76-year-old monopoly on sales of wheat and barley in the country.
Go deeper with GlobalData
Olam said the 50-50 JV will combine Olam’s international presence and customer relationships with Lansing’s North American merchandising experience. This “complimentary fit” will allow the firms to establish a “meaningful position” in the liberalised Canadian grains market, the companies suggested.
“We believe the individual company strengths of Lansing and Olam together will be able to deliver innovative solutions from origin to destination for the western Canadian grain customers,” Lansing president and CEO Bill Krueger commented.
The JV will look to meet food and feed demands in North American and international markets, the groups said.
KC Suresh, president and global head of Olam’s grains business, added: “The JV will leverage Olam’s in-house milling demand in Africa, its rapidly growing global trading platform and customer base along with Lansing’s deep knowledge of North American market. This will enable the JV to become a valuable contributor in the liberalised market.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe venture, to be called Lansing Olam Canada, is expected to commence operations next month.
